Lael Brainard

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, the first of four central bank nominees set for consideration by the chamber.

The Biden administration will soon face tough decisions on whether to renominate Jerome Powell as Federal Reserve chair and whom to select for vice chair of supervision and other posts.

The Federal Reserve said its regional banks should consider whether nontraditional financial companies meet the requirements of certain federal statutes and present “undue” risk to the financial system before granting access.

Federal Reserve Gov. Lael Brainard said "scenario analysis" is distinct from traditional regulatory tools to assess capital strength, but can measure the long-term impact of weather events and the transition to a greener economy.

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

Speaking at a virtual event hosted by the Center for American Progress, Federal Reserve Gov. Lael Brainard said the agency is also seeking feedback on how the Community Reinvestment Act could be used to encourage lenders to invest in climate resiliency.

A moderate pick with financial sector ties could upset progressives, while the likely GOP majority in the Senate could balk at a nominee seen as too liberal. Here are some of the candidates.

If Republicans keep their majority, the incoming administration will likely have to pick moderates over progressives to have any chance of getting its nominees approved.

Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report.

While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.